Principles of Marketing Midterm Project 1 & Project 2 – Flashcards
50 test answers
Unlock all answers in this set
Unlock answers 50question
5. A business that sends discount coupons to potential customers is using the __________ function of marketing. A. product/service management B. financing C. selling D. promotion
answer
D. promotion
Unlock the answer
question
6. Which of the following is an example of marketing information that a business could gather by surveying its customers: A. Location of the company's market B. The company's current market share C. Planned product improvements D. Financial status of competitors
answer
A. Location of the company's market
Unlock the answer
question
7. Which of the following would be the marketing information most likely to be gathered and analyzed by a marketing-information management system: A. Employee absences B. Unchanging events C. Historical data D. Consumer trends
answer
D. Consumer trends
Unlock the answer
question
8. Which of the following is a reason that marketers gather information: A. Competition in general has decreased. B. Today's consumers are easy to please. C. Marketers are decreasing their geographic scope. D. The marketing environment is constantly changing.
answer
D. The marketing environment is constantly changing.
Unlock the answer
question
9. What function of a marketing-information management system involves the distribution of marketing information to those who make marketing decisions? A. Data gathering B. Information reporting C. Marketing research D. Data processing
answer
B. Information reporting
Unlock the answer
question
10. One basic requirement of a marketing-information management system is that it should be able to A. operate only when needed. B. be used by all personnel. C. gather, access, and evaluate data. D. discard data after they are analyzed.
answer
C. gather, access, and evaluate data.
Unlock the answer
question
11. Which of the following is the correct sequence of steps in the development of new products: A. Idea generation, product screening, concept testing, test marketing, commercialization B. Concept testing, idea generation, product screening, test marketing, commercialization C. Commercialization, test marketing, idea generation, product screening, concept testing D. Product screening, idea generation, concept testing, commercialization, test marketing
answer
A. Idea generation, product screening, concept testing, test marketing, commercialization
Unlock the answer
question
12. Which of the following controls such new-product considerations as warranties and safety standards: A. Stages in product life cycles B. Product characteristics C. Market-research studies D. Government regulations
answer
D. Government regulations
Unlock the answer
question
13. One way that product/service management benefits marketing is by helping to decrease A. business risk. B. profits. C. sales. D. financial success.
answer
A. business risk.
Unlock the answer
question
14. One way that some businesses obtain new products to add to their product line is by A. consolidation. B. implementation. C. acquisition. D. syndication.
answer
C. acquisition.
Unlock the answer
question
15. Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management? A. New-product development B. Elimination of weak products C. Idea generation D. Monitoring of existing products
answer
A. New-product development
Unlock the answer
question
16. A short channel of distribution will probably be used by a producer that A. lacks sufficient funding. B. wants to share the costs of distribution. C. wants channel control. D. does not have its own sales force.
answer
C. wants channel control.
Unlock the answer
question
17. Channels of distribution are necessary for the sale of goods and services to ultimate A. wholesalers. B. consumers. C. retailers. D. sales agents.
answer
B. consumers.
Unlock the answer
question
18. Indirect channels of distribution are the only channels that involve A. industrial consumers. B. intermediaries. C. producers. D. ultimate consumers.
answer
B. intermediaries.
Unlock the answer
question
19. Wal-Mart, Domino's Pizza, and Avis Rent-a-Car are examples of A. industrial distributors. B. retailers. C. agents. D. wholesalers.
answer
B. retailers.
Unlock the answer
question
20. Where does a channel of distribution begin? A. With the industrial user B. With the ultimate consumer C. With the producer D. With the intermediary
answer
C. With the producer
Unlock the answer
question
21. Can prices be set too low? A. Yes; customers may feel quality is too high. B. No; the lower the price, the more willing the customer is to buy. C. Yes; customers may feel quality is too low. D. No; the lower the price, the greater the product's appeal.
answer
C. Yes; customers may feel quality is too low.
Unlock the answer
question
22. In which of the following businesses would a separate department most likely be responsible for establishing prices: A. Small boutique B. Local clothing store C. Hair salon D. Chain store
answer
D. Chain store
Unlock the answer
question
23. When companies increase the quality of materials used in the production of their products, their prices will tend to be A. the same. B. higher. C. lower. D. reduced.
answer
B. higher.
Unlock the answer
question
24. A characteristic of effective prices is that they must be A. inflexible. B. competitive. C. high. D. low.
answer
B. competitive.
Unlock the answer
question
25. Which of the following costs do businesses usually include in the price of their products: A. Orientation B. Inflation C. Regulations D. Transportation
answer
D. Transportation
Unlock the answer
question
26. A long-range benefit that a business may derive from promoting its company image is A. reduced expenses. B. new customers. C. immediate sales. D. customer loyalty.
answer
D. customer loyalty.
Unlock the answer
question
27. The way in which the promotional message is communicated should be A. selected by the market. B. suited to the product. C. different each time. D. the same in each case.
answer
B. suited to the product.
Unlock the answer
question
28. One of the reasons for using promotion is to __________ goods and services. A. guarantee B. deliver C. help sell D. display old
answer
C. help sell
Unlock the answer
question
29. Consumers may be hesitant to believe information in ads for a good or service because advertising A. is directed toward a mass audience. B. is intended to be misleading. C. raises the price of the product. D. is necessarily biased.
answer
D. is necessarily biased.
Unlock the answer
question
30. Promotion is thought of as being at the heart of marketing because it allows sellers to A. bypass middlemen such as retailers. B. distribute products to a larger market. C. bring new products to market. D. communicate the benefits of products to buyers.
answer
D. communicate the benefits of products to buyers.
Unlock the answer
question
31. Selling that meets customers'/clients' needs contributes to the A. relative price of products. B. national debt. C. size of the target market. D. success of the business.
answer
D. success of the business.
Unlock the answer
question
32. Products that are sold to the individual(s) who will make personal use of them are being sold for A. ultimate consumption. B. eventual resale. C. industrial purposes. D. promotional purposes.
answer
A. ultimate consumption.
Unlock the answer
question
33. A salesperson who explains to a customer the features and benefits of several types of 35mm cameras in stock is demonstrating good A. creativity. B. probing. C. product knowledge. D. ethical standards.
answer
C. product knowledge.
Unlock the answer
question
34. Which of the following is an example of a product's being sold to an organization for use in producing other goods: A. A retailer sells office furniture to an advertising firm. B. A retailer sells a sewing machine to a professional seamstress. C. A teenager mows his neighbor's lawn for $20. D. A distributor sells hundreds of comics to a comic-book store.
answer
B. A retailer sells a sewing machine to a professional seamstress.
Unlock the answer
question
35. Which of the following is an example of a product's being sold without the use of an intermediary: A. A tanning salon B. A Mary Kay cosmetics party C. A construction-supply distributor D. A car-rental agency
answer
B. A Mary Kay cosmetics party
Unlock the answer
question
36. Business goals are accomplished by means of marketing A. budgets. B. strategies. C. profit. D. salespeople.
answer
B. strategies.
Unlock the answer
question
37. Which of the following is a consideration in the place element of marketing: A. Offering warranties or guarantees B. Choosing distribution channels C. Using sales promotion D. Extending credit to customers
answer
B. Choosing distribution channels
Unlock the answer
question
38. A marketer who changes the product element in the marketing mix should re-evaluate the other marketing elements because the elements are A. detached. B. independent. C. unique. D. interrelated.
answer
D. interrelated.
Unlock the answer
question
39. What product factor should a business consider when selecting a good or service to offer its customers? A. Channels of distribution B. Level of quality C. Availability of credit D. Types of inventory control
answer
B. Level of quality
Unlock the answer
question
40. Which of the following elements of the marketing mix are businesses considering when they answer the question of how much of a product to order: A. Place B. Price C. Product D. Promotion
answer
A. Place
Unlock the answer
question
41. Scuba diving gear is an example of a product that would be marketed to a(n) __________ market. A. specific B. general C. mass D. unlimited
answer
A. specific
Unlock the answer
question
42. Customers in cold climates who need warm clothes are an example of which of the following market segments: A. Occupational B. Psychographic C. Behavioral D. Geographic
answer
D. Geographic
Unlock the answer
question
43. In order for a market to exist, consumers must have an unfulfilled desire for a product and A. have financial resources. B. know where the product is sold. C. know who makes the product. D. have a specific brand preference.
answer
A. have financial resources.
Unlock the answer
question
44. A home-improvement supply company targets its advertising to plumbers, carpenters, mechanics, and electricians. This business has segmented the market based on A. income. B. age. C. occupation. D. gender.
answer
C. occupation.
Unlock the answer
question
45. ABC Inc. sells very expensive products that the average consumer cannot afford. Which form of demographic segmentation would be the most appropriate to use when directing promotional efforts to the target market? A. Age B. Income C. Occupation D. Life stage
answer
B. Income
Unlock the answer
question
46. What type of information do businesses include in their marketing plans? A. Pricing strategies B. Billing methods C. Payroll systems D. Accounting procedures
answer
A. Pricing strategies
Unlock the answer
question
47. One of the main reasons for developing a marketing plan is to identify the strategies necessary to achieve the marketing A. objectives. B. functions. C. mix. D. share.
answer
A. objectives.
Unlock the answer
question
48. Why do businesses develop marketing plans? A. To provide quality service B. To expand the distribution system C. To attract the target customer D. To prepare a revenue statement
answer
C. To attract the target customer
Unlock the answer
question
49. Which component of the marketing plan summarizes the environmental conditions that can affect a business's marketing activities: A. Conditional assessment B. Diagnostic summary C. Situational analysis D. Environmental synopsis
answer
C. Situational analysis
Unlock the answer
question
50. The Radnor Company outlined the specific activities and timelines it plans to use to accomplish its marketing goals. In which section of the marketing plan is this information placed? A. Situation analysis B. Implementation C. Objectives D. Executive summary
answer
B. Implementation
Unlock the answer
